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Women-centric social network Healofy on Wednesday said it has raised $8 million (about Rs 55 crore) from China’s maternity and child-focused community platform BabyTree Group, BAce Capital, a fund anchored by Ant Financial Services Group, and existing investor Omidyar Network India.
The company said it plans to invest the funds to further strengthen the product, engineering and data science teams and scale its machine learning and personalisation engine.
“We are excited to be partnering with our investors in our next phase of growth given their expertise in their respective markets,” said Healofy Chief Executive Officer (CEO) Gaurav Aggarwal said in a statement.
Aiming to address the growing demand for relatable and credible content for Indian women in the age group of 21 to 35, Healofy was founded in September 2016 by Gaurav Aggarwal and Shubham Maheshwari, alumni of IIT Guwahati and NIT Warangal, respectively.
The company was initially focused on women’s health-related categories (pre-conception, pregnancy, early child care) and has grown to become the leading women-centric app community in India.
In its next phase, Healofy is expanding into newer categories - fashion, food and lifestyle - and will be available in eight Indian languages
The company also plans to catalyse e-commerce for women in the smaller cities and towns by helping them transact online.
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